GENIVAR Income Fund Acquires Harmer Podolak Engineering Consultants Inc.



    MONTREAL, Aug. 8 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is
pleased to announce the acquisition of Harmer Podolak Engineering Consultants
Inc., ("Harmer Podolak"), an Ontario-based firm specializing in bridge
engineering and civil infrastructure. GENIVAR has over 2,000 employees in
Canada and abroad, with more than 400 in Ontario.
    "GENIVAR's acquisition of Harmer Podolak complements our Ontario
transportation team and positions GENIVAR as a key player in this sector. We
offer the full range of services from transportation planning to design and
project construction in roads, highways, mass transit, bridges and other civil
infrastructure. We are building on these assets to pursue our development in
transportation, through both organic growth and other acquisitions," said
Pierre Shoiry, President and CEO of GENIVAR. "Canada has major transportation
infrastructure needs, whether in transportation planning, traffic management,
roads, bridges, freeways, or mass transit. We intend to take part in many
major coming projects," he concluded.

    Founded in 1994, Harmer Podolak has established itself as one of the
leading bridge engineering companies in Ontario and, with 25 employees
including 15 engineers, it is the largest bridge specialty office in the
National Capital area and eastern Ontario.
    Harmer Podolak specializes in the area of bridge infrastructure
management, which provides engineering services to federal, provincial and all
levels of municipal bridge authorities and owners. Services include
inspection, analysis of rehabilitation and renewal options, design, tendering
and construction administration.

    "We are very happy that Harmer Podolak is joining the GENIVAR team. This
acquisition is strategic in the National Capital Region where GENIVAR now has
a multidisciplinary team of some 190 employees," said Marc Rivard, P.Eng, Vice
President for Eastern Ontario. We plan to continue to enlarge our team in
order to participate in numerous transportation projects as well as other
market segments in our province," added Mr. Rivard.
    "GENIVAR will provide the impetus and resources for us to broaden our
market and better utilise our bridge expertise to increase our involvement in
the areas of transportation infrastructure planning and environmental
assessments," said David Harmer, P. Eng., President, Harmer Podolak. "This
will also allow us to attract other firms and additional personnel to
GENIVAR's Transportation Group," he added.
    "GENIVAR's business approach which promotes the operation of local
specialized offices will allow us to continue to provide the same responsive
service that our clients have come to expect while at the same time creating
opportunities for growth," added Jan Podolak, P.Eng., Vice President of Harmer
Podolak.

    Harmer Podolak Projects

    The major rehabilitation of the interprovincial Portage
Bridge/Confederation Boulevard complex for the National Capital Commission in
Ottawa/Gatineau is an example of one of the major bridge projects completed by
Harmer Podolak.
    Harmer Podolak has also gained a reputation in the industry as a leader
in innovative bridge design. This was recently exemplified by the completion
of the widening of the Terry Fox Bridge on Highway 417 in Ottawa in which the
new bridge was lowered into place using a hydraulic jacking system.

    About GENIVAR

    GENIVAR is a leading Canadian Engineering Services firm providing private
and public sector clients with a comprehensive range of professional
consulting services through all execution phases of a project including
planning, design, construction and maintenance. Clients fall into various
market segments such as building, industrial and power, urban infrastructure,
transportation and environment. GENIVAR is one of the largest Engineering
Services firm in Canada in terms of number of employees with more than 2,000
managers, professionals, technicians and technologists and support staff in
some 40 offices in Canada and internationally. www.genivar.com




For further information:

For further information: Pierre Shoiry, President and Chief Executive
Officer, GENIVAR Income Fund, (514) 340-0046, ext. 5104; Marlène Casciaro,
Director of Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184;
David Harmer, P. Eng., President, Harmer Podolak Engineering Consultants Inc.,
(613) 828-4445

Organization Profile

GENIVAR Inc.

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HARMER PODOLAK ENGINEERING CONSULTANTS INC.

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